Cidara Therapeutics, Inc. $CDTX Stake Lifted by Vivo Capital LLC

Vivo Capital LLC boosted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 91.7% in the 2nd quarter, Holdings Channel reports. The fund owned 1,311,425 shares of the biotechnology company’s stock after acquiring an additional 627,149 shares during the quarter. Cidara Therapeutics accounts for 6.5% of Vivo Capital LLC’s holdings, making the stock its 3rd largest holding. Vivo Capital LLC owned 0.05% of Cidara Therapeutics worth $63,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cidara Therapeutics by 167.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company’s stock valued at $21,325,000 after purchasing an additional 620,046 shares during the period. Vestal Point Capital LP purchased a new stake in Cidara Therapeutics in the first quarter valued at approximately $10,868,000. Jefferies Financial Group Inc. purchased a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at $21,920,000. Geode Capital Management LLC lifted its position in shares of Cidara Therapeutics by 576.6% during the second quarter. Geode Capital Management LLC now owns 372,010 shares of the biotechnology company’s stock worth $18,124,000 after purchasing an additional 317,027 shares in the last quarter. Finally, Aberdeen Group plc lifted its holdings in Cidara Therapeutics by 115.0% during the 2nd quarter. Aberdeen Group plc now owns 259,916 shares of the biotechnology company’s stock worth $12,661,000 after buying an additional 139,037 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicole Negar Davarpanah sold 474 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $62.86, for a total value of $29,795.64. Following the completion of the sale, the insider directly owned 31,418 shares of the company’s stock, valued at $1,974,935.48. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JMP Securities set a $173.00 price target on shares of Cidara Therapeutics and gave the stock a “market outperform” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. lowered shares of Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, November 17th. Needham & Company LLC cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Wall Street Zen downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada downgraded Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cidara Therapeutics has a consensus rating of “Hold” and a consensus target price of $156.11.

Cidara Therapeutics Stock Down 0.1%

Shares of NASDAQ CDTX opened at $220.07 on Tuesday. The firm has a market cap of $6.92 billion, a PE ratio of -18.68 and a beta of 1.45. The business has a 50 day moving average price of $142.63 and a two-hundred day moving average price of $84.58. Cidara Therapeutics, Inc. has a fifty-two week low of $15.22 and a fifty-two week high of $221.20.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.24). On average, analysts anticipate that Cidara Therapeutics, Inc. will post -8.74 earnings per share for the current year.

Cidara Therapeutics Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.